Chapter 5
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| show | Amount of a product offered for sale a all possible prices in a market.
🗑
|
||||
| Change in Quantity Supplied | show 🗑
|
||||
| show | different amounts offered for sale at each and every possible price in the market; shift of the supply curve.
🗑
|
||||
| show | Responsiveness of quantity supplied to a change in price
🗑
|
||||
| show | Graphic portrayal showing how a change in the amount of a single variable input affects total output.
🗑
|
||||
| Short run | show 🗑
|
||||
| show | Production period long enough to change the amount of variable and fixed inputs used in production.
🗑
|
||||
| show | Total output or production by a firm
🗑
|
||||
| show | Extra output due to the additional of one more unit of input.
🗑
|
||||
| show | Stage of production where output increases at a decreasing rate as more units of variable input are added.
🗑
|
||||
| Fixed Costs | show 🗑
|
||||
| Overhead | show 🗑
|
||||
| show | Production cost that varies as output changes; labor, energy, raw materials.
🗑
|
||||
| show | Variable plus fixed cost; all costs associated with production.
🗑
|
||||
| show | Extra cost of producing one additional unit of production.
🗑
|
||||
| show | Total amount earned by a firm from the sale of its products; price of goods sold times quantity sold.
🗑
|
||||
| Marginal Revenue | show 🗑
|
||||
| Profit Maximizing Quantity of Output | show 🗑
|
||||
| show | Production level where total cost equals total revenue; production needed if the firm is to recover its costs.
🗑
|
||||
| show | Lowest legal price that can be charged for a product.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
3zimm
Popular Economics sets